Marathon Trading Investment Management LLC lifted its position in shares of Macy’s Inc (NYSE:M) by 130.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,000 shares of the company’s stock after buying an additional 17,000 shares during the period. Macy’s accounts for approximately 0.1% of Marathon Trading Investment Management LLC’s portfolio, making the stock its 29th largest holding. Marathon Trading Investment Management LLC’s holdings in Macy’s were worth $655,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in M. Ffcm LLC increased its position in Macy’s by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after purchasing an additional 3,615 shares during the last quarter. Penserra Capital Management LLC increased its position in Macy’s by 51.1% during the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after purchasing an additional 1,880 shares during the last quarter. Financial Architects Inc increased its position in Macy’s by 254.5% during the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after purchasing an additional 4,200 shares during the last quarter. Edge Wealth Management LLC acquired a new position in Macy’s during the second quarter worth approximately $142,000. Finally, Kistler Tiffany Companies LLC acquired a new position in Macy’s during the third quarter worth approximately $148,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. UBS AG reaffirmed a “neutral” rating and set a $21.00 price target (down previously from $23.00) on shares of Macy’s in a research report on Monday, August 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 price target on shares of Macy’s in a research report on Thursday. BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $21.00 price target (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Finally, Wedbush reissued a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Macy’s has an average rating of “Hold” and a consensus target price of $26.31.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is currently 68.64%.
In related news, Director John A. Bryant bought 9,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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